Small business HRA, also known as a QSEHRA plan, or QSEHRA health insurance, is a new way for small businesses to offer benefits. As a small business owner, your time, money, and stress level are things you can't afford to be frivolous with. This new small business health insurance option is worth considering!
QSEHRA Plan benefits
The benefits of QSEHRA will save you time, money and headaches for you as the business owner as well as your employees.
In fact, the majority of our clients are small businesses just like yours, and 80% of our small business clients are net new to benefits.
That means that their employees are getting employer support with their health benefits for the very first time.
This is awesome!
Small business HRA saves you TIME
Selecting and managing a large group plan takes a lot of time and attention.
Small business HRA saves you MONEY
Offering full health insurance benefits can be extremely expensive when owning a small business. If you've looked into this, you probably got sticker shock at those premium prices.
Employers are able to have set cost caps that allow easier budgeting throughout the year, not to mention that each reimbursement is tax-free (no income tax, no employee tax).
Offsetting the cost for insurance for employees is doable with QSEHRA, and it will keep your employees happier as well. They can pick their own plan without having to shoulder the costs for it.
Sounds like a win-win to us!
Small business HRA saves you HEADACHES
In addition to being really expensive, selecting a group plan for your staff can be incredibly daunting (not to mention time consuming).
With QSEHRA, your employees choose their own plan, saving you a lot of hassle.
You are able to select the amount of pre tax money that is distributed to your employee each month automatically, and you can even sync those reimbursements through your payroll software.
Saving you the stress of having to figure out how much is to be portioned off each pay period, the QSEHRA is funded monthly at a predetermined amount you chose. In addition to offering benefits to your existing employees, QSEHRA allows you to offer competitive benefits packages for recruiting new employees.
You don’t have to worry about not being current with competitors in finding the right employee.
More questions on QSEHRA health insurance?
Let us know how we can help! Chat with us online or dive deeper with our new QSEHRA Guide.
It walks you through setup, administration tools, FAQs, and rules to know.
It's a good read!
I wrote this blog because I care about ideas (big and little) that can help fix our healthcare system. I used to work on projects for Kaiser Permanente and the Parkland Health & Hospital System so I've seen the system inside and out. It's so important that consumers keep up with industry shifts and changing health insurance regulations. I'm also Take Command Health's Content Editor and a busy mom. Learn more about me and connect with me on our about us page. Thanks!